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HSBC matches rivals’ fixed-rate mortgages

April 10, 2008 by admin  
Filed under News, News-Mortgages

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Mortgage customers concerned about rising interest rates can breathe a sigh of relief as HSBC is extending its mortgage Rate Matcher offer to all UK homeowners.

Non-HSBC customers will be able to apply for the deal, available for the next five weeks, promising to match rates as low as 4.54 per cent for another two years.

Under the deal, which was originally only available to existing HSBC customers, the maximum loan will be £250,000.

“Rate Matcher helps customers plan budgets over the medium term and eases the shock of seeking new borrowing when old rates expire,” commented head of mortgages at HSBC Martijn Van Der Heijden.

Customers will have to pay a fee which will depend on the interest rate and size of the loan requested, however the bank expects that 72 per cent of customers will not pay more than £999.

Many consumers may want to take advantage of this deal since the average fixed-rate mortgage deal is currently around 6.2 per cent, with very few deals below five per cent.

Tags: investment, term, Business Finance, maximum, rising interest rates, rivals, HSBC Martijn Van, mortgage rate

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